Willie Walsh, IATA’s Director General said: “This statement is timely as the post COVID-19 restart will see an acute need to repair damaged finances while operating at the highest standards of safety and reliability.

“Rolls-Royce has taken a proactive approach in working with us on this commitment that will stimulate a more open MRO industry and have a long-lasting impact in the market.

“Competition spurs innovation and creativity while typically driving down costs, helping to keep air travel affordable. We look forward to other OEMs making similar commitments.”

Chris Cholerton, President Rolls-Royce Civil Aerospace, said: “We welcome this agreement that recognises our ongoing commitment to providing customers with a flexible, capable and competitive MRO offering.

“We appreciate that an open and balanced ecosystem of MRO providers allows airlines to have access to greater choice and competitive pricing.”